Blackstone Real Estate Income Trust invests primarily in commercial real estate in the United States.
(Photo: Reuters)
new York The US investment company Blackstone is limiting repayments from its $ 69 billion real estate fund Blackstone Real Estate Income Trust (Breit) due to excessive outflows. Due to too many redemption requests, the return was limited, the private equity house announced on Thursday. Only 43 percent of the applications were approved in November.
There are thresholds for how much money investors can withdraw to avoid forced selling. According to the company, these limits are two percent of the net asset value, and the limit per quarter is five percent. The threshold values were therefore exceeded. According to information from the “Financial Times”, around 70 percent of the applications came from Asia.
The real estate division is a central pillar of the Blackstone business. According to its own statements, the managed investor capital is around 319 billion dollars. Breit invests primarily in commercial real estate in the United States.
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